ADC Agree Realty Corp.

$ADC Raised the dividend by 3.4% yesterday. The safest dividend is the one that has just been raised 😉

$ADC Not to brag, but I have a friend in the US (he’s actually my only friend in the US...), and he works for this company and has nothing but good things to say. He understands why insiders have been buying millions’ worth of shares lately, even though they already held large stakes. I’ve bought Agree Realty A Pref (ADC-A) at an average price of $15.55—opting for the preferred shares rather than the common stock because I’m a bit risk-averse. Plus, interest rates here in Sweden are still low compared to yours, and the USD/SEK exchange rate continues to work in my favor. At the current price—over $16.00—I’m still getting a 6.7% yield, boosted by the currency tailwind, with low risk given the company’s tenant base and low debt levels. It also pays monthly dividends. In other words, this stock is everything that $FBIOP (which I also own) should one day become...

$ADC starter position. Rate environment bad, but I like the portfolio here on the pullback

$ADC Bought again at $64.54 as earnings beat and treasury yields remain below the 5.25% level

$ADC Three reasons to buy: 1-The P/B ratio of 1.3 is attractive and equals that of Realty Income 2-Insiders have bought at $68 $73 and $74 3-September is a historically weak month for ADC. Then the stock recovers in October and November.

$ADC $FBIOP This is trading at a 36% discount to its $25 par value. I understand why there is a discount, given the interest rate environment in the US relative to the original 4.25% annual coupon rate; however, this discount will not last forever, so in the long run, one should be able to count on some price appreciation. In the meantime, this preferred stock offers the most secure monthly dividend I have ever seen.

$ADC Agree Realty, a REIT that owns 2,888 net-leased retail properties, cut its 2026 investment guidance to about $1.6B from $1.6–$1.8B and raised planned asset sales to $100–$150M from $50–$100M. It had invested about $1.3B through Sept 30, which leaves roughly $300M for Q4, against $358M in Q3. Mkt value $8.73B at $67.085 (16:00 ET, Oct 20, 2026) on 130.1M Oct 19 shares. On the other side, the low end of 2026 AFFO guidance rose a cent to $4.58–$4.59, Q3 AFFO/share rose 4.9% to $1.15, and the CEO cites "value over volume." Earnings call Oct 21, 9am ET.

$ADC Q3 AFFO per share rose 4.9% to 1.15 dollars, and total AFFO was up 17.2%. The gap is the share count, Agree settled 5.7 million forward shares for about 426 million dollars in the quarter and put 357.7 million dollars into 94 properties at a 7.3% weighted cap rate with 14.5-year average leases. Full-year AFFO guidance ticked up to 4.58 to 4.59 dollars, the portfolio ended the quarter 99.8% leased, and the October monthly dividend went up to 27.1 cents.

Agree Realty reported strong Q3 2026 results, beating Wall Street expectations with adjusted EPS of $0.53 versus $0.48 estimated and revenue of $213.88M versus $211.19M expected, up 16.7% year over year. Management raised its 2026 AFFO-per-share guidance to $4.58–$4.59. During the first nine months, the company invested approximately $1.3B across its three external growth platforms. Q3 investments totaled $358M across 94 retail net-lease properties, while portfolio occupancy remained strong at 99.8% and liquidity stood at approximately $ 2B. Wells Fargo lowered its price target to $79 from $83 but maintained an Overweight rating. Agree Realty also issued $400M in public bonds at an all-in rate of 5.36%, further strengthening its balance sheet. The earnings beat and higher guidance helped restore investor confidence after the REIT hit a 52-week low earlier in October, supporting its income and dividend-growth investment case. $ADC

$ADC Q3 '26 Earnings Results & Recap • Reported GAAP EPS of $0.53 up 17.78% YoY • Reported revenue of $225.69M up 17.20% YoY